AvidXchange, a provider of accounts payable (AP) automation software and payment solutions for mid-market businesses and their suppliers, has announced a strategic partnership with COCC, a premier provider of innovative fintech solutions for community banks and credit unions.
With this partnership, AvidXchange will bring its suite of AP automation and payment solutions to COCC’s extensive network of financial institutions through a streamlined process. By transforming traditional, paper-based AP processes into streamlined digital workflows, COCC’s customers can automate their invoice-to-pay process without disrupting existing workflows—resulting in greater efficiency, visibility, and control.
The partnership introduces COCC clients to a solution specifically designed to address the complex needs of financial institutions. Key features include:
- Intelligent Capture: Leverage OCR invoice capture to eliminate manual data entry.
- Customized Workflows: Automate GL allocation and multi-level approval routing to streamline your AP process.
- Comprehensive Modules: Access specialized tools for Fixed Assets, Purchase Requisitions, Prepaids & Accruals, and Expense Reporting.
- Payment Automation: Enable secure electronic payment options that replace paper checks, reducing fraud risk and processing costs.
“Community banks and credit unions shouldn’t have to choose between speed, control, and security,” said Michael Praeger, CEO and Co-Founder of AvidXchange. “Through our partnership with COCC, more institutions can give their AP teams a simpler path from invoice to payment – reducing manual work, improving visibility, and freeing staff to focus on the people and priorities that matter most.”
By leveraging AvidXchange’s AI-enhanced software, community banks and credit unions can achieve significant operational efficiency and cost savings. The transition to a single automated solution allows staff to move away from labor-intensive tasks and focus on high-value activities such as financial analysis and customer service.
“This partnership gives community banks and credit unions a smarter way to modernize accounts payable without adding complexity,” said Elizabeth Caplan, SVP and Chief Transformation Officer at COCC. “By pairing proven automation with practical controls, institutions can reduce friction, improve visibility, and give their teams time back to focus on higher-priority initiatives.”
For more information on the partnership, visit https://www.avidxchange.com/integrations/cocc/.
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